Business News

Inflation could rise to 6.2% next year, with interest rates peaking at 5.25%, in the event of a prolonged energy shock with oil prices remaining above $130 a barrel, according to a worst-case scenario modelled by the Bank of England.

The owner of hotel chain Premier Inn has announced plans to cut 3,800 jobs, blaming higher costs, as part of an overhaul of its restaurants.

Elon Musk has accused his rival Sam Altman of trying to "steal" a charity as he fights his $150bn (£111bn) court claim over OpenAI.

UK long-term borrowing costs have hit their highest level since 1998 while oil prices have notched a new Iran war peak amid fears of extended disruption to energy flows from the Middle East.

The United Arab Emirates (UAE) has said it is to leave the OPEC and OPEC+ cartels of oil-producing nations, potentially threatening greater turbulence for global energy markets ahead.

The oil and gas producing giant BP has recorded a more than doubling of profits as it benefits from high prices from the Iran war.

No-fault evictions will finally be banned from Friday - seven years and four prime ministers on from when the change was first promised.

Higher prices could last for more than eight months after the Iran war ends, the prime minister's right-hand man has said as ministers step up efforts to offset potential impacts to food and fuel supplies.

Asda has been named the cheapest supermarket for branded items for a second month, with shoppers paying over £3 less for one popular olive oil than at Waitrose.